The advantages of Cognitive Computing in the field of Real Estate breaks through all possible known boundaries, it has the ability to extract the required information from any structured/unstructured raw data and apply to the necessary fields. It can even read through thousands of property brochures and highlight the key data such as name and details of the tenant, pricing around each locale and price per square foot. These data assists the cognitive computer to prepare an ideal index for the client based on his specifications. Research have shown that a basic cognitive system can perform the task of extracting key data from an index of raw data in a time frame of 2 seconds which would have otherwise taken a team of 20 experts a100 days to accomplish. The advantages of cognitive computing in real estate include:
- Human error free
- Human Resources can be made to perform non repetitive works
- Reduces firm cost as the machine is more efficient
Cognitive Computing brings inn different technologies from the field of Artificial Intelligence and Big Data Analysis and it would focus on distilling the needed information within its domain. It also focuses on standalone solutions to the firms and agencies that might require its services.